by Deanna Fisher | May 10, 2023 | Uncategorized
As part of the enrollment process, participants are asked to elect a beneficiary. However, this step is often not completed or kept up to date as time goes on, which can make death distributions more complicated than they need to be. When a participant names a...
by Deanna Fisher | May 10, 2023 | Uncategorized
As a plan sponsor, do you feel your employees have a clear understanding of the company’s retirement plan? Do most utilize it as a tool to save for retirement—and, if not, do they understand the benefit that they are missing? According to the 2022 PLANSPONSOR...
by Deanna Fisher | Apr 5, 2023 | Uncategorized
Within 18 months: Effectiveness of notice provided for eligible rollover distributions: A 402(f) notice, often referred to as a Special Tax Notice, must be provided to the recipient of a distribution that is eligible for rollover. The notice must contain required...
by Deanna Fisher | Apr 5, 2023 | Uncategorized
In 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act increased the Required Minimum Distribution (RMD) age for retirement plan participants from age 70 1/2 to 72. Additionally, it introduced opportunities for Long Term Part Time (LTPT)...
by Deanna Fisher | Apr 5, 2023 | Uncategorized
When Plan Sponsors are asked to provide company and employee census information for a recent plan year, the details being collected affect the contributions that must be calculated and funded as well as which compliance tests the plan must satisfy. The same questions...
by Deanna Fisher | May 7, 2022 | Uncategorized
If you sponsor a defined contribution retirement plan, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 now requires additional information be provided to your plan participants on their quarterly account statements. Along with their...
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